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In the construction of Maharashtra Sadan, contractors have earned 80 per cent profits, while as per the government circular such contractors are entitled to only 20 per cent gains, the officials said.

They added that the books of accounts were fudged to show that the profit earned was only one per cent.

Officials had said that to construct Maharashtra Sadan, Chamankar Associates, the contractor firm, had allegedly transferred money to Niche Infrastructure and other companies in which Pankaj and Sameer were the directors.

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The chargesheet said that most of the companies floated by the Bhujbals are in the name of employees and used for siphoning off funds. Niche was earlier owned by some employees of Maharashtra Educational Trust, in which the Bhujbals later became directors.